Last month he was jailed for five years and seven months for using false invoices to fraudulently obtain more than $2.5 million from the downtown Auckland promotion agency Heart of The City, which he had founded and led for

nearly two decades.

Alex Swney – TV(NZ)

Swney was also found guilty of tax evasion, having avoided paying more than $1.7 million in taxes to Inland Revenue. Including penalties and interest, he was found to owe $3.8 million.

The bankruptcy – which had been sought by the IRD – is now in the hands of the Official Assignee, who will seek to recover funds for any creditors. [Read more…]

Alex Swney – the disgraced former boss of Auckland’s Heart of the City, has been sentenced to five years and seven months jail.

The 57-year-old, who has admitted to tax evasion and defrauding the business group, appeared in the Auckland District Court on Wednesday.

There will be no minimum non-parole period.

The maximum penalty for the dishonest use of documents charge is seven years in prison.

Swney is the founder and former chief executive of the publicly funded Heart of the City, which promotes businesses in central Auckland. He was granted a temporary reprieve in April, after a sentencing judge fell ill.

Swney was fired last year after the Inland Revenue Department filed charges over $1.8 million of unpaid taxes, and a further $1.3m in penalties and interest.